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Is there a plan to update the Federal Income Tax Types to reflect the new 1099 codes?

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edited Mar 4, 2021 8:42PM in Tax & Global 3 comments

Summary

In 2020, the IRS changed the 1099 income tax types (e.g. MISC7 is now NEC1). Is there a plan to update these codes in the system?

Content

In 2020, the IRS changed the 1099 income tax types (e.g. MISC7 is now NEC1).  Is there a plan to update these codes in the delivered LOV?  It does not appear that this is a list that can be modified by us/the customers. 

Please advise.  Thanks.

Version

R13 21A

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